Como parte de un ambicioso programa de reformas iniciado con la reducción unilateral de aranceles en 1989, durante lo corrido de los noventa en Colombia se adoptaron medidas tendientes a redefinir la estructura y funcionamiento del sistema financiero. Así, se facilitó la entrada de nuevos...

This paper looks into the political economy forces that helped shape exchange rate policy in Colombia since the early 1960s. As witnessed by the remarkable longevity of the managed crawl, Colombian exchange rate policies since 1967 did not take the form of major regime changes. Policy shifts...